Posted by in Family Biz, Non-listed Companies on Apr 12, 2020 .

In April 2019 the Lim family of Yee Lee Corporation (Yee Lee Corp) teamed up with a PE (Private Equity) Fund, Dymon Asia to take Yee Lee Corp private. The minority shareholders held out and the privatisation deal was not successful. It fell a little short of the 90% that the offerors needed in order to compulsorily acquire the balance of the 10% shares. While other shareholders cashed out at the general offer price of RM2.33 per share (net asset backing of Yee Lee Corp exceeds that and it has retained earnings of above RM500 million in its coffers) a remnant felt that they deserved more perhaps. The closing date was extended twice and the...

Posted by in Food, Hypermarkets & Supermarkets on Mar 23, 2020 .

Malaysians will miss Tesco. After 18 years here, UK’s largest grocer, Tesco Plc, says goodbye.

The sale of Tesco’s Malaysian and Thai operations to Thai billionaire Dhanin Chearavanont’s CP Group for US$10.6 billion marks the conclusion of Tesco’s Asian operations. Tesco had exited from China in February 2020 after the sale of its stake to state-run partner, China Resources Holdings. In 2015 Tesco sold its S.Korean operations to MBK Partners, the biggest private equity fund in S. Korea. MBK is founded by Harvard University educated Michael Kim Byung-ju in 2005 according to Korea News Plus. The hedge fund paid US$6.1 billion for the...

A&W is America’s first franchised quick service restaurant (QSR) chain and it celebrates its 100th birthday this year (2019). The A&W chain in Malaysia is the oldest  QSR restaurant franchise in Malaysia. The first A & W outlet opened in Jalan Tuanku Abdul Rahman in 1963. 

A&W currently has 47 outlets in Malaysia. The Master franchise for A&W Malaysia is held by Inter Mark Resources Sdn  Bhd (IMR). IMR bought over the franchise from KUB Malaysia Bhd in July 2018 for MYR34 million. www.nst.com.my. George Ang, CEO of IMR and A&W Malaysia, wants to make A&W exciting again for Malaysians. It is not going to be easy. A&W grew up with the...

It’s a Malaysian Dream come true for Mrs Gaik Wong and her daughter, Wong Kah Lin, founders of The Chicken Rice Shop (TCRS), Malaysia’s pioneer halal Hainanese chicken rice chain. Japan’s Zensho Holdings Co., Ltd paid RM220 million to the Wongs to buy up TCRS. The deal was done in June 2019. Though old news, we were asked to place it on our website for the benefit of those who didn’t know. Kentaro Ogawa, Group CEO of Zensho said that the acquisition was a directive from the board to take Zensho global. Zensho is the No.1 food service company in Japan by sales and ranks among the top 10 food service companies in the world. Find out more...

Posted by in Food, International Food Franchises on Oct 15, 2019 .

MAC CHUNG LYNN MAkes Nando's a Huge Success in Malaysia

The lady who made Nando’s Malaysia a household name is an architect turned entrepreneur called Mac Chung Lynn, Group CEO of Nando’s Malaysia & Singapore. The idea of bringing Nando’s to Malaysia came from her father who fell in love with the delicious taste of this flame-grilled South African chicken dish when he visited Chung Lynn in London and dined at a Nando’s outlet. It was not Mac’s intention to run a restaurant business but with her father’s encouragement, she changed her profession from an architect to a businesswoman. She has no regrets she said. The company that holds...

Posted by in Food, Convenience Store Chains on Oct 17, 2019 .

Japan’s FamilyMart convenience store chain has won a place in the hearts of KLites who happily queue in line particularly during lunch hours to order its delicious oden (choice of tofu fish cake, fried fish balls, crab fish cake etc) served hot in a spicy tomyam broth besides other delectable offerings like bento boxes, udon in broth etc. FamilyMart is one of Japan’s top three giant convenience store chains, the other two being 7-Eleven and Lawson. It has more than 17,000 stores in 7 countries.

FamilyMart was brought into Malaysia in 2016 by QL Resources Berhad ( Master Franchisee for 20 years), a listed company on Bursa Malaysia with...

The man behind the success of local convenience store chain, 99 Speedmart is Lee Thiam Wah who is currently the Managing Director of the chain. They used to call him the Mini-market King of Klang but he has transcended that local honour. Lee won the Asia Pacific Entrepreneurship Award in 2014 for outstanding performance and perseverance in developing a successful business. He has since won other awards. See www.99speedmart.com.my

99 Speedmart opened its 1000th outlet in 2017 and Lee has no plans to stop expanding the chain. He is racing towards 2000 outlets. 7-Eleven has 3000 stores so it is not mission impossible.

The wheelbound...

In the 1980s when Kentucky Fried Chicken was the reigning American fried chicken franchise in Malaysia, an enterprising nurse, Nancy Liew, gave up her job to start a small fried chicken restaurant with her husband, Lawrence. Nancy was only 25 when the venture began with the first outlet at Jalan Wong Ah Fook, Johor Bahru. She didn’t have much money and the seed capital of RM120,000.00 for the restaurant set-up came from their joint savings and borrowed funds from relatives and close friends. Nancy still remembers how banks were unwilling to finance their business and told her, “you can open a shop today and close tomorrow.” The business...